The new year will bring some good news for certain professionals whose skills will be in high demand this year.
The Robert Walters Salary Survey for 2019 has revealed some of the jobs that are most likely to receive payrises. It looks at the difference between the wages of a job offered this year, compared to last year, to see where the biggest demand and growth could occur.
It suggests two unlikely factors will drive wage growth: the mining and resource sector and the royal commission into the banking industry.
The mining sector is enjoying a resurgence and there will be skill shortages in Western Australia and Queensland for engineering, project delivery, commercial management, project controls and quality and safety.
Meanwhile the banking royal commission exposed ethical failings in many institutions, which will increase demand for risk, remediation and compliance professionals, particularly in Sydney and Melbourne.
“Over the past few years we have seen only very specialist jobs experience double digit wage growth, such as high-end technology software developers, cyber security specialists and infrastructure professionals,” Robert Walters managing director James Nicholson said.
“This year not only are specialised technology and infrastructure jobs expected to see continued growth, but those employed in mining, risk and compliance, and human resources should also feel positive about wage growth.”
Each state has a different outlook, with workers in Queensland and Western Australian most likely to see wage increases.
The survey suggests the volatility of business conditions in NSW would mean wage growth was largely off the table for most of the workforce this year.
“The New South Wales jobs market has an air of unpredictability for 2019,” Robert Walters managing director of ACT and NSW, Andrew Hanson, said.
“The uncertainty is due to global economic volatility coupled with the growing cost of living, property market slowdown and the federal and state elections taking place later this year.”
However, market risk professionals who can make sense of the current unpredictable and uncertain economic outlook, could see their wages rise by 27 per cent.
Skills that will be popular include market risk, compliance and governance.
“Market risk professionals with only a couple of years experience could see their pay increase by up to $30,000 compared to 2018 wages, while mobile lenders in the banking industry could be one of the beneficiaries of the royal commission seeing their pay increase by 25 per cent,” Mr Hanson said.
“Project co-ordinators working within the infrastructure sector could see their wages grow by 22 per cent to $110,000 this year.”
Infrastructure projects and those in the rail and defence sectors are also driving the recruitment of technology, construction and transformation jobs.
Major projects in infrastructure, banking and financial services as well as the corporate sector are generating jobs growth.
“The Westgate Tunnel, Airport Rail and Melbourne Metro Rail Projects will generate demand for professionals with similar skill sets,” Robert Walters Victoria director James Dalrymple said.
“Skill shortages will extend beyond construction and engineering into ancillary services.”
Victoria will also be impacted by the banking royal commission with increased demand for remediation and compliance professionals across banking, wealth, insurance and superannuation.
Other specialists in demand include artificial intelligence, machine learning specialists, cyber security risk professionals, front-end development and data science experts.
However, manufacturing and retail sectors will continue to experience challenges.
There is expected to be “significant” jobs growth in 2019 driven by large-scale infrastructure projects such as engineers, project managers, technology, innovation specialists and the HR professionals to hire them.
“2019 is set to be a significant year of growth for Queensland employers and consequentially a year of great opportunity for job seekers,” Robert Walters Queensland director Sinead Hourigan said.
She said there would be a range of projects coming to market at the same time across south east Queensland and in regional areas.
Three major wage winners were identified.
“Firstly engineering and project management professionals with major infrastructure experience will be in huge demand, driven by the award of mega projects such as Queens Wharf, Inland Rail, Cross River Rail and Brisbane Metro” Ms Hourigan said.
In particular, there will be demand for signalling engineers, rail systems and integration specialists. Another big growth area will be planning and project controls where salaries could increase by up to 20 per cent.
Technology specialists with experience in creating platforms to improve customer experiences will also be in demand. For example, a software developer earning $95,000 last year, could see their pay increase by 32 per cent to $125,000 this year.
In-house HR professionals could see their wages grow by more than 30 per cent or $55,000 a year, particularly in the infrastructure, construction and financial services sectors.
Increased government spending in defence, education and the not-for-profit sector in South
Australia has led to wage growth of over 15 per cent in business support roles, including project administrators.
Those employed in business support, sales and marketing and associated jobs are well placed to see a significant uptick in their pay this year thanks to positive economic activity in the state over the past 12 months.
Project administrators and marketing executives are also likely to see above average salary growth, most notably in the defence sector, spurred by the substantial submarine and frigate projects in South Australia.
“An entry level business support role such as a project co-ordinator could see an 18 per cent increase, while a marketing executive with four or five year’s experience could see their wage grow to $95,000, an increase of 12 per cent,” Robert Walters South Australian director Michelle Christie said.
“There will also be new marketing jobs created on the back of increased government spending in education and the not-for-profit sector more broadly. Many of these jobs will be junior level positions.”
The highly skilled mining and resources sector is set to experience growth in 2019, with some enjoying a 30 per cent rise in wages, the first bullish run on wages in over a decade thanks to investment in infrastructure, resource and technology projects in the state.
Project engineers will be in huge demand and could see their pay increase by $30,000, a rise of more than 30 per cent.
“It is an exciting time for Western Australian workers, particularly for those employed in mining and resource projects, who can confidently expect to be in demand this year due to declining mining school enrolments, the movement of skills to the eastern states during the recent downturn and the reluctance of families choosing residential mining roles,” Robert Walters Western Australia director Ryan Hathrill said.
“Additionally, rail engineering firms will be seeking more mechanical, electrical, structural and systems engineers to support new public transport railway lines, extensions and upgrades such as the Forrestfield-Airport Link.”